Fed's Hammack (2026 voter, Hawk) says it is reasonable to keep rates steady for now given uncertainties; Fed may need to act ‘soon’ if inflation trends don’t cool

There are risks to waiting for signs high inflation is becoming embedded in economy Main concern is growing risk of persistent inflation pressures Worried monetary policy may not be tight enough to lower inflation Remains firmly committed to getting inflation back to 2% Economy is facing broadening array of factors driving up inflation Sharp energy shocks hard for monetary policy to deal with Unemployment rate is around full employment levels Job market data points to stability